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University of Alabama System Endowment Fund

Name: The University of Alabama System

Assets Under Management: $3.2 Billion (Source: University of Alabama Systemom 6/30/2013)

Annual Report: The University of Alabama System Financial Report 2012-2013

Portfolio Insights: “The Management’s Discussion and Analysis (MD&A) of The University of Alabama’s (the “University”) annual financial report presents a discussion and analysis of the financial performance of the University during the fiscal years ended September 30, 2013 and 2012. This discussion has been prepared by management along with the financial statements and related note disclosures and should be read in conjunction with the financial statements and notes. The financial statements, notes and this discussion are the responsibility of management.

The University’s financial statements present the financial condition, results of operations and cash flows of the University and its blended component unit, The Crimson Tide Foundation (“CTF”). The financial statements of six affiliated foundations are presented discretely from the University. The notes to the financial statements provide additional information that is essential to a full understanding of the financial statements. A summary of new accounting standards and their anticipated effects conclude the footnotes with brief summations of recently issued statements of the Governmental Accounting Standards Board (“GASB”).”(Source)

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Top University of Alabama System Endowment Fund Headlines:

1) The University of Alabama System makes a list of all holdings available to the public per open records law. It also makes a list of asset allocation, external managers, and mutual funds available to the public, and sends the information upon request. The university system does not make the shareholder voting record of its mutual funds and commingled funds public. (Source)

2) University of Alabama System, Tuscaloosa, hired Hewitt as consultant for its pooled endowment and operating cash funds. The funds, which have $850 million in combined assets, recently terminated another consultant, which Joanne Jackson, vice chancellor of financial affairs, declined to identify. According to the 2000 Money Market Directory, Dahab Associates was consultant to the pooled endowment fund. In addition, Cambridge was brought on as a consultant to work on special projects related to alternative investing. (Source)

3) As a unit of the University of Alabama System, the University participates in the pooled endowment fund managed at the System level. In the 12-month period ending September 30, 2010, the well diversified pool had a 7.1% return. The endowment pool asset allocation at August 31, 2010 was 45% global equity, 23% fixed income, 14% hedge funds, 9% real estate, 6% private equity, and 3% cash. The Intermediate fund which holds the University’s midrange working capital had a 5.3% return for the same period.

4) During a joint meeting between the Board of Trustees at both Auburn University and the University of Alabama System Wednesday in Montgomery, Auburn Trustee Jimmy Rane not only called House Bill 319 an “ominous threat,” but said it was “unconscionable” for the institutions to even consider making up a joint deficit of $130 million. “We are coming (together) to meet this threat and fight it,” he said. (Source)

5) The University of Alabama System, with approximately $ 3.2 billion in assets over five investment pools, is seeking proposals for a bank custodian. Firms wishing to request a copy of the RFP should send an email to A letter certifying that minimum requirements are met should be submitted by February 10, 2014. The deadline for submission of RFP’s is February 14, 2014 at 5 p.m. (Source)

About Richard C. Wilson